UPDATE: Piper Jaffray Initiates Coverage on LDR Holding Corporation with Overweight Rating, $26 PT on Unique High-Growth, High-Value Portfolio

In a report published Monday, Piper Jaffray analyst Matt Miksic initiated coverage on

with an Overweight rating and $26.00 price target. In the report, Piper Jaffray noted, “LDR's portfolio of patent-protected and PMA-supported products is a high-growth, high-value platform for growth in the recovering spine market, in our view. The company's record of execution and growth at the high end of the range of smaller innovative spine players supports this view, and we see a number of reasons for sustainable above-market performance going forward. Given its higher growth profile, differentiated products and pivotal trial data supporting superiority claims for Mobi-C, we expect the stock to continue to trade at a premium to other high-growth spine and high-growth med tech players. The launch of the recently approved Mobi-C cervical disc in the US also provides an attractive opportunity for revenue acceleration, which we expect to maintain upward pressure on valuation. We are initiating coverage of LDRH with an Overweight rating and $26 price target, and view the stock as attractive at current levels.” LDR Holding Corporation closed on Friday at $20.06.